The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-07-07
HIGH PRICES FOR COAL.
The Chicago Dealers Add Twenty-Five Cents.
and the Price Is Expected to Go to So.

CHICAGO. July 6-The Inter Ocean tomorrow
will publish the following bearing or the price
Of coal IN this city:
1.-THE advance of % cents ton in the price of
hard coal, July has started good deal of think
ing among the large consumers of Chicago. The
advance is some what early. and the presumption
is that the price will advance beyond the maxi
mum of last winter-$8. The coal barons of
advance although there are other contingent
causes that must be taken into consideration.
such as the advance in water freiehts and the
interstate-commerce bill. but the chief cause, so
the local dealers say. lies in the fact that the
Eastern coal syndicate decided to put up the
prices and the local men we're simply compelled
to follow the orders from headquarters. The
Chicago Coal Exchange has no option in the
matter. and must themselves when the
prices are advanced in the East This is the
view that the local coal men take of the subject
On the other hand. gentleman who is at the head
of a firm that uses large amount of coal an
nualiy stated yesterday that there was coal
which ran things 20 suit themselves. The price
of coal to-day, said he, in this city, is So rs to
~ ton. Any one who is not dealer cannot
buy 1t for less, no matter what quantity
he may want In 1879 and 1880 the
price got low So 20 per ton.
This was the result oe open competition in
opened mines, and worked for themselves eco
nomically. thereby being able to undersell tine
coal kings and great corporations. These men
thereupon put their heads together and put down
the price of coal still lower crushing out the lit
tie fellows compelling them join the COM
bination. The next year we had coal up again
here to Sc % at wholesale. But it was not until
last year that the ring succeeded
in perfecting their organization, and
then they made things so tight
that the price of coal was made arbitrarily by
committee for each month. and no party was al
lowed to sell it for private consumption below
the fixed rate under penalty of fine and of
having bis supplies cut off. Now they again pro-
pose to put the screws to With the supplies
of coal we have. with easy and ready means of
transportation there seems to be reason
why the retail price of hard coal should be above
So per ton in this city"
Another gentleman. who was conversant with
the subject. said: This advance IN the price of
coal is unnatural and is purely the result of
combination to make the price of coal touch
high figure by the middle OF winter Last sea-
son the ring began its advance late
that the price never reached higher
figure than So This time they pro-
pose to commence the raise enough
to permit the price to 60 to SO per ton by
regular advances. Last year the consumer
might get his coal for Sc, but this time the con-
sumner has not been able to get ton less than
$780, Now, they have put the price to Sc Is and
81 per ton, and there is no knowing where they
will STOP 1t does not cost any more to mine the
coal this year than last, and the transportation
is fixed by the coal and railroad ring"